The RBI’s decision on April 26, 2021 to curtail tenures of bank chief executive officers and executive directors may finally lead to Kotak relinquishing his post at the end of 2023.
Had the Reserve Bank of India (RBI) descended,...
The central bank's decision to not spell out a rationale does little in terms of adding to the ownership debate.
Hemindra Hazari BANKING 12 HOURS AGO
It was surely one of the more odd episodes...
Hemindra Hazari
9 July 2019
On 26 June 2019, confronted with a contempt petition filed in the Supreme Court of India by Right to Information Act, 2005 (RTI) activist, Girish Mittal, the Reserve Bank of India (RBI) finally disclosed the...
The legal battle concerns the RBI’s instructions to Kotak Mahindra Bank to reduce the promoter holding, and the bank's sharp practices while appearing to comply.
By Hemindra Hazari
MUMBAI, Maharashtra—A royal legal battle has been going on between Kotak Mahindra Bank...
BANKING April 10, 2019
The sacked employees feel that they have been given a raw deal, which may have a demoralising impact on the bank's workforce.
By Hemindra Hazari
By Hemindra Hazari
Even on their best days, India’s financial newspapers are watchdogs that rarely bark. For the most part, they prefer not to place large companies under the scanner, let alone try and fix accountability on influential promoters and powerful chief executive officers.
By Hemindra Hazari
On January 11, 2019, the Reserve Bank of India (RBI) issued a press release informing the public that “by an order dated January 4, 2019 imposed a monetary penalty of Rs 30 million on Citibank N.A. India (the bank) for deficiencies in compliance...
In an unprecedented act, Kotak Mahindra Bank (KMB) on December 10, 2018 filed a writ petition in the Bombay high court against the Reserve Bank of India. The writ prayed for permission to include its preference capital (a debt instrument) issue in paid-up capital, thereby lowering the stake of...
Mumbai: It is the season of resignations for the independent directors of India Inc’s corporate boards.
The recent stormy exit of R. Chandrashekhar from the board of Yes Bank caught the media’s attention, after which the private sector lender had to issue an apology to the stock exchanges and retract its...
